The president of Honda Motor Company has said his firm will aim to develop fully self-driving cars by around 2025, amid increasingly fierce international competition to produce autonomous vehicles.

"We hope to establish technologies (for fully automated cars) by around 2025," President Takahiro Hachigo told reporters earlier in the week at the company's research and development center in Tochigi Prefecture.

Honda is now aiming to develop fully automated "level 4" cars that require no steering wheel or brake operations under specific conditions such as the time of day, location and type of weather. "Level 4" cars are just one step short of "level 5" vehicles, which make driving completely autonomous with no restrictions.